Vietnam: Imposes zero tariffs on the US; US: Imposes 20% tariffs on Vietnam.
This morning, the US and Vietnam finally reached an agreement on tariff issues. White House press secretary Karoline Levitt stated that all goods exported from Vietnam to the US will be subject to a 20% tariff, and if they are transshipped through a third country, a 40% tariff will apply.
As for Vietnam, it imposes zero tariffs on the US and fully opens its market without any reservations. This outcome is shocking.
US cars, agricultural products, energy, etc., will be welcomed in Vietnam. The US has won a major victory in the trade war with Vietnam.
For the same product, if the cost is $10 and the profit margin is 10%, plus a 20% tariff, it needs to be sold for $13. However, when the US sells it to Vietnam, it's only $11. It's too cheap, making Vietnamese goods completely uncompetitive.
Levitt also issued a threat at the end. The 90-day suspension period for the tariffs is about to end, and this time there will be no extension. Many countries have very few left, meaning that if they don't agree, the US will stop doing business.
Vietnam lost badly this time. They immediately made it clear to the US that they would impose zero tariffs, revealing their hand. Within a maximum of one year, Vietnam will regret it. Vietnam was too timid.
Original article: https://www.toutiao.com/article/1836608305804297/
Statement: This article represents the personal views of the author.